E. NEW TAKE OFF: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
E. NEW TAKE OFF
Largest movements
- Stocks and contracts -€119,000
no longer reported in 2025 (was €119,000)
- Receivables within one year -€35,560
down €35,560 (-27.4%), from €129,587 to €94,027
of which Trade receivables: -€127,944
- Tax, wage and social debts -€77,823
no longer reported in 2025 (was €77,823)
- Other debts -€39,752
no longer reported in 2025 (was €39,752)
- Trade debts -€27,469
down €27,469 (-98.5%), from €27,879 to €410
- Gross operating margin -€2,199
down €2,199 (-90.0%), from -€2,444 to -€4,643
- Depreciation -€249
no longer reported in 2025 (was €249)
- Other operating charges +€137
up €137 (+35.3%), from €388 to €525
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €604,913 | €454,106 | -€150,807 | -24.9% |
| Current assets | 29/58 | €604,913 | €454,106 | -€150,807 | -24.9% |
| Stocks and contracts in progress | 3 | €119,000 | - | -€119,000 | |
| Stocks | 30/36 | €119,000 | - | -€119,000 | |
| Amounts receivable within one year | 40/41 | €129,587 | €94,027 | -€35,560 | -27.4% |
| Trade receivables | 40 | €127,944 | - | -€127,944 | |
| Other amounts receivable | 41 | €1,643 | €94,027 | +€92,384 | +5,623% |
| Cash at bank and in hand | 54/58 | €356,326 | €360,079 | +€3,753 | +1.1% |
| Total equity and liabilities | 10/49 | €604,913 | €454,106 | -€150,807 | -24.9% |
| Equity | 10/15 | €459,459 | €453,696 | -€5,763 | -1.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €440,867 | €435,104 | -€5,763 | -1.3% |
| Tax-exempt reserves | 132 | €346 | €346 | = | 0.0% |
| Distributable reserves | 133 | €440,521 | €434,758 | -€5,763 | -1.3% |
| Amounts payable | 17/49 | €145,454 | €410 | -€145,044 | -99.7% |
| Amounts payable within one year | 42/48 | €145,454 | €410 | -€145,044 | -99.7% |
| Trade debts | 44 | €27,879 | €410 | -€27,469 | -98.5% |
| Suppliers | 440/4 | €27,879 | €410 | -€27,469 | -98.5% |
| Taxes, remuneration and social security | 45 | €77,823 | - | -€77,823 | |
| Taxes | 450/3 | €77,823 | - | -€77,823 | |
| Other amounts payable | 47/48 | €39,752 | - | -€39,752 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €249 | - | -€249 | |
| Other operating charges | 640/8 | €388 | €525 | +€137 | +35.3% |
| Gross operating margin | 9900 | -€2,444 | -€4,643 | -€2,199 | -90.0% |
| Operating profit (loss) | 9901 | -€3,081 | -€5,168 | -€2,087 | -67.7% |
| Financial charges | 65/66B | €596 | €595 | -€1 | -0.2% |
| Recurring financial charges | 65 | €596 | €595 | -€1 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,677 | -€5,763 | -€2,086 | -56.7% |
| Income taxes | 67/77 | -€11 | - | +€11 | |
| Profit (loss) for the period | 9904 | -€3,666 | -€5,763 | -€2,097 | -57.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,666 | -€5,763 | -€2,097 | -57.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.